Abrigo

JANUARY 27, 2020

Strengthen credit risk by improving your credit union's loan underwriting standards. Be proactive in cybersecurity controls and implement best practices. . The agency published its 2020 supervisory priorities to help credit unions prepare for their next exam. Strengthen credit risk by improving underwriting.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit Risk 78

Abrigo

AUGUST 27, 2020

Key Takeaways FinCEN and federal regulatory agencies have been increasingly transparent in the first three quarters of 2020. There is no doubt that the year 2020 is strange and maybe even frightening to many people. An institution should expect a more tailored exam based on their risk profile, and one size does not fit all.

Cybersecurity 78

Cybersecurity Credit Risk Transactions 78

Abrigo

APRIL 30, 2020

1, 2020, and the earlier of 60 days after the termination of the National Emergency, or Dec. Prioritizing these requests will be critical in successfully managing credit risk and maintaining profitability. Financial Cybersecurity. 31, 2019; and It must be executed between Mar. Artificial Intelligence. BSA Software.

Cybersecurity 78

Cybersecurity Credit Unions Credit Risk Small Businesses 78

Abrigo

APRIL 30, 2020

15, 2020 through April 26, 2020, then it must restore or rehire employees no later than June 30, 2020 to avoid decreasing the amount of loan forgiveness, according to the PPP information sheet for borrowers. Borrowers that received loans prior to the issuance of the latest FAQ have until May 7, 2020 to repay the loan in full.

Cybersecurity 109

Cybersecurity Small Businesses Credit Risk 109

Abrigo

JULY 16, 2021

Takeaway 1 FinCEN published its first list of priorities for AML/CFT policy, as required by the Anti-Money Laundering Act of 2020 (AMLA). Lending & Credit Risk. Portfolio Risk & CECL. Takeaway 2 Regulations haven't been written, but there are steps community financial institutions can take now to prepare.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit Risk 78

Abrigo

SEPTEMBER 18, 2020

The advisories were issued May 18, July 7, and July 30, 2020, showing the fluidity of the scams in this unprecedented time. When filing a COVID-19 related SAR, FinCEN requests that SAR field 34(z) (Fraud Other) be selected and the key term “COVID19 MM FIN-2020-A003” in SAR field 2 (Filing Instruction Note to FinCEN) and in the narrative.

Electronic Funds Transfer 78

Electronic Funds Transfer Cybersecurity Transactions Credit Risk 78

Abrigo

AUGUST 10, 2020

They are poised and ready to use disasters , such as a pandemic, to steal money and/or personal information. On July 30, 2020, the Financial Crimes Enforcement Network (FinCEN) released their third advisory concerning COVID-19 - related fraud typologies of which financial institutions should be aware. Financial Cybersecurity.

Cybersecurity 78

Cybersecurity Transactions Credit Risk 78